Hungary's Largest ESG Consultancy Formed by Merger of EY, Denkstatt Services
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With Denkstatt becoming a member of the EY Group, Hungary's largest sustainability consulting team has been formed. As a result of this merger, more than 60 EY professionals are now helping companies in Hungary to tackle environmental, sustainability, and climate change-related business challenges, the Big4 firm tells the Budapest Business Journal.
In the future Denkstatt will support companies with its special expertise under the "EY Denkstatt" brand name as part of EY's sustainability team. In addition to Hungary, the transformation has also taken place in Austria, Bulgaria, Romania, and Slovakia.
EY's Climate Change & Sustainability Services and EY Denkstatt are now able to provide comprehensive support for green transitions in areas such as: sustainability reporting and validation; ESG and EHS management and compliance; climate change and decarbonization strategy; environmental, technical and ESG due diligence to support transactions; environmental and economic impact assessments, green building certification services and digital ESG solutions in partnership with EY's global partners.
"Our goal is clear – to provide the most effective advice for the sustainable development of companies. Thanks to the merger, we will help companies in Hungary with comprehensive, sector-specific solutions in their green transitions. I am confident that together we will achieve an even greater positive impact and create value that can significantly benefit our clients, employees, and the country's economy," said Tamás Vékasi, country managing partner at EY Hungary.
Zsolt Kónya, head of assurance at EY Hungary, added: "The importance of responsible, sustainable corporate operations has increased over the past few years and it is expected to continue in the years to come. This step demonstrates EY's commitment to providing the best support to our clients in complying with the increasingly stringent regulatory requirements and supporting this critical cause with high-quality audits of sustainability reports, which are now subject to financial audit."
Attila Jenei, sustainability partner at EY Denkstatt, emphasized that with its three-decades of experience denkstatt joining EY will mean that the clients of both companies will be able to use an even wider range of services. "Combining the expertise and professional network of the two companies is a sensible response to today's trends, in which the scientific reality of sustainability is more and more becoming the focus of business decision-makers."
Ákos Lukács, partner at EY Sustainability and Climate Change Services, said that by combining the two companies' knowledge, their competencies and capacities will strengthen significantly. "No doubt that we can now address any complex environmental, sustainability and climate change challenge our customers may face in a manner that makes a significant contribution to their green and sustainable growth and helps them understand and build resilience to climate change."
Globally, EY became carbon neutral in 2020 and carbon negative in 2021, and its current goal is to achieve net zero carbon emissions by 2025.
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